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13.03.2023 - 11:13
Business
Sky News
Buyout firm Advent joins list of suitors for $10bn sandwich chain Subway
A former owner of the high street retailers DFS and HMV has joined the suitors vying to take control of Subway, the global fast food chain.Sky News understands that Advent International is one of several private equity firms which have progressed through to the second stage of an auction of Subway. Advent submitted an indicative …
13.03.2023 - 10:07
Business
Evening Standard
West End and Knightsbridge urge Government to relax Sunday trading laws in Budget
The West End and Knightsbridge have submitted a joint proposal ahead of this week’s Budget, calling on the Government to relax laws governing Sunday trading hours within the two London districts.The New West End Company (NWEC) and Knightsbridge Partnership said that current Sunday trading laws had made it more difficult for the two areas – …
13.03.2023 - 10:02
Business
Business Live
Welsh business activity returns to growth in February
Business activity across Wales’ private sector returned to growth last month after a slight rise in demand as inflationary pressures eased, new figures suggest. According to the latest Wales Business Activity Index from NatWest, Welsh firms saw a renewed rise in demand halfway through Q1 2023 following a rocky start at the beginning of the …
13.03.2023 - 09:58
Business
Evening Standard
Tech firms breathe sigh of relief after HSBC saves Silicon Valley Bank UK
Tech companies up and down the country breathed a collective sigh of relief this morning after the Bank of England said HSBC had agreed to rescue the British arm of Silicon Valley bank (SVB) in an eleventh-hour deal.The central bank said SVB UK’s business will continue to operate and customers would be able to use …
13.03.2023 - 09:55
Business
Business Live
Tungsten West appoints new CEO to secure ‘pivotal’ Devon mine funds
A company looking to restart production of the rare metals tungsten and tin at its mine in Devon has appointed a new chief executive. Tungsten West has hired experienced mining consultant Neil Gawthrope as it continues to re-develop the Hemerdon mine site near Plymouth. The Hemerdon deposit is estimated to be the second-largest reported tungsten …
13.03.2023 - 09:53
Business
Evening Standard
Direct Line takes a hit from weather claims and rising costs of motor repairs
Direct Line, the FTSE 250 insurer, swung to an annual loss for 2022, taking a hit from its biggest ever amount of claims relating to bad weather and the rising cost of repairing cars.The December big freeze was the biggest driver of £149 million in weather-related claims, with the £95 million in claims from the …
13.03.2023 - 09:49
Business
Evening Standard
Car makers warn UK must ‘step up to compete’ in electric vehicle production
The UK’s ability to compete internationally in electric vehicle (EV) production is at risk, an automotive industry body has claimed.Urgent action is needed by the Government to respond to “fierce competition” from other countries, the Society of Motor Manufacturers and Traders (SMMT) said.Cutting energy costs, speeding up funding for green technology projects and expanding free …
13.03.2023 - 09:46
Business
Business Live
THG and musicMagpie move to reassure investors as Silicon Valley Bank’s UK arm is sold to HSBC
THG and musicMagpie have moved to reassure investors as a deal was agreed for HSBC to acquire the UK arm of collapsed US lender Silicon Valley Bank. The deal was announced this morning (Monday, March 13) after the Government and Bank of England stepped in to “facilitate” a private sale. It came after the American …
13.03.2023 - 09:45
Business
Evening Standard
Heathrow ready for ‘successful Easter getaway’ after chaos of 2022
Heathrow has sought to reassure families it is prepared for a “successful Easter getaway” after many saw their holiday plans ruined a year ago.The west London airport said overall passenger satisfaction is “close to pre-pandemic levels”.The punctuality of departing flights in February was “the most consistent it has been in the last 12 months”, while …
13.03.2023 - 09:28
Business
Business Live
‘It means the world to our team’: Puppet masters who made the stars of Guillermo del Toro’s Pinocchio hail Oscars triumph
The puppet masters who created the stars of Guillermo del Toro’s Pinocchio have reacted to the film’s Oscars triumph. Altrincham-based Mackinnon & Saunders collaborated with the Hollywood director to manufacture the miniature stars of the Netflix stop-motion animation. The film won the Oscar for best animated film at the 2023 ceremony last night. It had …
13.03.2023 - 08:00
Business
Business Live
Stelrad sees revenues rise but profits hit by accounting rule
Radiator firm Stelrad saw revenues rise in 2022 but complications linked to its Turkish operations meant a drop in statutory profits. The group – which is based in Newcastle and has a manufacturing site in Yorkshire – has released preliminary results for 2022 which show that revenues rose 16.2% to £316.3m. Over the same period, …
13.03.2023 - 07:14
Business
Sky News
HSBC buys Silicon Valley Bank UK for £1 in deal which ‘protects customers and taxpayers’
HSBC has bought the embattled UK arm of Silicon Valley Bank (SVB UK), securing the deposits of more than 3,000 customers worth £6.7bn. Confirming a story broken on Monday by Sky’s City editor Mark Kleinman, the Bank of England, which had been preparing to bring the bank into an insolvency process, said all depositors’ money …
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